Covid-19 PanICdemic/Plague:  The State Of The States:  Bailout Or Bankruptcy? (July 20, 2020)

. . .

K          “There was a time when folks went into government not to get rich but to do right.”

J          “They may have told themselves that they entered to do good but they ended up doing well.  At the well.”

. . .

K          “Well, their pensions are not well.”

J          “The well is drying up.”

. . .

J          “States cannot deficit spend.  They cannot print money.”

J          “States cannot keep taxing the public or they will lose their public.”

. . .

K          “The supreme court justices of each state who have reviewed the issue regarding pensions have totally and dishonestly disregarded the clear conflict of interest and demanded that payment of their pension is the highest priority obligation of the citizens and the state government.”

J          “I would like some courageous governor very publicly to send the bills to the supreme court justices and tell the public that the court is not paying the obligations it proclaims need to be paid.”

. . .

K          “The criminal enterprise known as the federal government has bailed out anyone affiliated with powerful lobbyists including hedge funds that were engaged in premeditated and systematic criminal activity.”

J          “So are pensions no less corrupt than and thus possibly as deserving as the handouts to the hedge funds?”

. . .

J          “The current generation has no moral or ethical obligation to pay the debts of the past generation when all of the benefits went to the past generation.”

K          “My thought is to pass legislation to allow for a state to file bankruptcy so the framework is there to trim the benefits to align with the benefits of other ordinary citizens.  Looking at the fees generated in the Detroit bankruptcy as a gauge, the fees for just one state filing bankruptcy likely will be three to four billion dollars.”

. . .

[See the e-commentary at “Government Bureaucracy 101 (September 26, 2016)”, “Pensions and Other Entitlements: Pt. 1 (April 14, 2008)”, “Pensions and Other Entitlements: Pt. 2 (April 28, 2008)”, other e-commentary under the Category on “Pensions”, and “‘Titters’ v. ‘Self-Unemployed’ (September 1, 2014)”.]

Bumper stickers of the week:

Beat the rush, be the first to file

Beat the rush, be the first to flush

For folks not working for the government, your retirement party is now known as your funeral.

For folks who are “Self-Unemployed,” your last day on the job is also your last day on the planet.

“Perspectives on Race, Class, Gender, Titters and The Self-Unemployed 101” at 9 a.m. M W F at Mr. and Ms. R. Baron Hall taught by Adjunct Professor of Race, Class, Gender, Titters and The Self-Unemployed H. Sebastian . . . .

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